Dubai Chamer Forms Business Group D2A2 to Strengthen and Promote Digital Asset Industry

Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, has announced the establishment of the Dubai Digital Assets Business Group (D2A2), which aims to the digital asset industry in Dubai, boost transparency through market intelligence and data, and foster cross-border cooperation.

The new business group will strengthen the role of the digital asset industry in the economic development of the UAE and the entire Middle East region, enhance digital business infrastructure and support the growth of digital companies in Dubai.

Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, and Chairman of Dubai Chamber of Digital Economy, said the new group provides digital asset companies with a platform to help them address market challenges and undertake strategic adjustments.

Al Olama emphasized that the establishment of D2A2 is in line with the Dubai Digital Economy Chamber's strategic move to promote the growth of the local digital economy. He believed that the digital economy is the economy of the future on which the pillars of the development process are based, and the D2A2 will be an important reference for providing strategic and up-to-date market research data related to the digital asset sector to industry stakeholders, the private sector, policymakers and government entities.

Gaurang Desai, Chairman of D2A2, said: "We see an opportunity to turn Dubai and the UAE into a regional hub for digital assets. That is why it is very important to work towards creating a bridge for the digital asset industry to further integrate into the world economy by cooperating with counterpart organisations across the world. We wish to welcome all experts in the industry to come and join D2A2, to help us spread the principles of accountability, integrity and transparency, and promote the highest professional and ethical standard."

Recently, a number of digital asset companies have flooded into the Dubai market. Last month, crypto companies, such as FTX​, Komainu, Huobi Group​, OKX, received virtual asset licenses issued by Dubai Authorities. Digital broker GCEX​ also announced its expansion with the opening of an office in Dubai early July.